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U.S. Treasury yields rise as Democrats work on new fiscal stimulus

U.S. government debt prices were lower on Friday morning as traders monitored news of potential new fiscal stimulus in the United States.

At around 1.45 a.m. ET, the yield on the benchmark 10-year Treasury note rose to trade at 0.6692%. The yield on the 30-year Treasury bond was trading higher at 1.4077%. Yields move inversely to prices.

It comes after Treasury yields dropped on Thursday on the back of weak jobless claims. 

In the meantime, Democrat lawmakers are reportedly working on a small stimulus package as the U.S. economy keeps grappling with the implications of the coronavirus pandemic.

The economic calendar is thin Friday with only durable goods due to be published at 8:30 a.m. ET.

Meanwhile, New York Fed President John Williams will speak at 9 a.m. ET and at 3:10 p. m. ET.

There are no Treasury auctions scheduled.

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